Commerce Minister Khandaker Abdul Muktadir. File Photo

DHAKA, July 29, 2026 (BSS) - Commerce Minister Khandakar Abdul Muktadir today said the government is implementing a series of structural reforms to strengthen Bangladesh's economic foundations and ensure a smooth and sustainable transition from the Least Developed Country (LDC) category.

Speaking at a seminar on "Bangladesh's Upcoming LDC Graduation: Navigating the Challenges of Sustainable Transition" at the ICMAB Bhaban in the capital, the minister said the government's decision to defer LDC graduation by three years was aimed at addressing structural weaknesses and implementing key reforms to prepare the economy for the post-LDC era.

He said the reform agenda focuses on strengthening energy security, overhauling the banking sector, improving the ease of doing business and enhancing institutional efficiency to make Bangladesh more competitive in the global market.

Highlighting energy as a key priority, Muktadir said the government is working to address the country's energy shortage.

He said ensuring reliable energy supply and developing gas storage facilities would enable industries to utilise their installed capacity and accelerate economic growth.

The minister said the government is also pursuing reforms in the banking sector to restore financial discipline and transparency. 

Stressing the need to move away from imaginary accounting, he said realistic assessment of non-performing loans and effective recovery measures are essential for rebuilding confidence among investors.

As part of efforts to improve the investment climate, Muktadir said the government will introduce a genuine One-Stop Service (OSS) this year to simplify business procedures.

The minister also announced that trade licences will be issued for five years under a fully digital system, allowing businesses to apply for and print licences online without visiting government offices.

Muktadir said the government is committed to establishing the rule of law, strengthening accountability and creating a transparent business environment that encourages entrepreneurship and attracts both domestic and foreign investment.

He urged professional accountants to contribute to the reform process by ensuring greater transparency and sound financial governance, saying structural reforms are essential for Bangladesh's successful and sustainable post-LDC journey.

The keynote paper at the seminar was presented by CPD Distinguished Fellow Professor Dr Mustafizur Rahman, who analysed the likely challenges Bangladesh would face after LDC graduation, including increased global competition, the erosion of preferential tariff benefits and the need for economic transformation. 

He underscored the importance of enhancing productivity, diversifying exports and accelerating policy reforms.

Former National Board of Revenue (NBR) Chairman and former ICMAB President Md Abdur Rahman Khan, FCMA, said good governance, infrastructure development, policy consistency and political stability would be crucial for Bangladesh's success in the post-LDC era.

He said the country possesses enormous human potential and now needs effective implementation of reforms.

BGMEA President Mahmud Hasan Khan said the focus should not only be on increasing export volumes but also on raising value addition and retaining a larger share of export earnings within the country. 

He said the ready-made garment sector could achieve at least 10 per cent growth if the energy situation improves and access to low-cost financing is expanded. 

He also called for the expansion of Bangladesh Bank's special financing facilities for the sector.

PRAN Group Managing Director Ilias Mridha participated in the discussion as a panellist, while former ICMAB President Arif Khan, FCMA, moderated the session. 

ICMAB Secretary Monjur Md Saiful Azam, FCMA, delivered the vote of thanks.